The KBW Bank Index, which tracks 24 of the nation's largest banks, fell more than 7 percent to 27.06.

The fall comes a day after Treasury Secretary Timothy Geithner said during television interviews that the struggling banking sector might need even more money to help it right itself and increase lending. The comments by Geithner affirmed that the ongoing credit crisis and recession is still weighing on banks.

"Putting that out there highlights the fact that we're not in the late stages of this," says Peter Jankovskis, co-chief investment officer at OakBrook Investments.

U.S. stocks fell as the specter of a bankruptcy for General Motors and fears that banks such as Citigroup and Bank of America may not pass their "stress tests" punctured the recent rally. The Dow Jones Industrial Average fell 254.16 points, or 3.27%, to 7522.02[.]

[...]

Standard & Poor's 500 index fell 28.41, or 3.48%, to 787.53[.]

[...]

The technology-oriented Nasdaq Composite fell 43.4, or 2.81%, to 1501.8.

I saw they used the word "rally", too. Well, considering how complicit the MSM is with Barry, it's not all that surprising. We have a looooooooong way to go, I agree, before applying "rally" to the market. A couple of thousand points lost that we need to get back before using "rally". But it's Barry. The Teflon Thug. Nothing sticks to him.